The firm said the investment was made alongside healthcare-focused entrepreneur and executive Ricardo Spinola.

EMX partner and managing director Rodrigo Fonseca said, “With EMX’s financial commitment, we will support the company’s expansion plan in the following years, including the establishment of manufacturing facilities.”

EMX currently has $250m of assets under management in two funds. The firm is focused on growth equity investments and outright acquisition of operating companies.

It has invested in sectors such as education, call centres, direct sales, financial services, consumer products, logistics and packaging.